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Trump Media Technology Group share price
Shares of Trump Media Inc. have been volatile since their public debut as retail investors and short sellers bought and sold companies tied to the controversial Republican presidential nominee.
But the trend over the past three weeks has been negative: The stock has now fallen by more than half since a New York jury convicted Trump on May 30 of 34 felony counts of falsifying business records.
It’s unclear whether the conviction itself triggered the decline — although the company acknowledged in its SEC filing that “President Donald J. Trump is involved in one or more ongoing legal proceedings.” An adverse outcome could have a negative impact on TMTG and its companies.” Truth social platform. “
Some analysts attributed the decline to the Securities and Exchange Commission’s approval of Trump Media’s registration for an additional stock offering.
The SEC announced the license after the bell on Tuesday, which allows the company’s early investors to resell certain shares and exercise warrants, which could dilute the stock price.
However, Truth Social notes that if all warrants are exercised for cash, its net assets could be as high as $247 million.
This is developing news. Please check back for updates.
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